Flaherty & Crumrine Preferred Income Fund (NYSE:PFD) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Flaherty & Crumrine Preferred Income Fund Inc. (NYSE:PFD)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.44 and traded as low as $11.28. Flaherty & Crumrine Preferred Income Fund shares last traded at $11.28, with a volume of 19,762 shares.

Flaherty & Crumrine Preferred Income Fund Price Performance

The company’s fifty day moving average price is $11.27 and its 200 day moving average price is $11.45.

Flaherty & Crumrine Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 23rd will be paid a $0.061 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.73 dividend on an annualized basis and a yield of 6.49%.

Institutional Trading of Flaherty & Crumrine Preferred Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC acquired a new position in Flaherty & Crumrine Preferred Income Fund during the 4th quarter valued at approximately $31,000. McClarren Financial Advisors Inc. bought a new stake in Flaherty & Crumrine Preferred Income Fund in the fourth quarter valued at $39,000. Pathway Financial Advisers LLC lifted its stake in Flaherty & Crumrine Preferred Income Fund by 88.6% in the fourth quarter. Pathway Financial Advisers LLC now owns 6,332 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 2,974 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Fund during the third quarter valued at $125,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Flaherty & Crumrine Preferred Income Fund by 11.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,169 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 1,919 shares during the last quarter.

Flaherty & Crumrine Preferred Income Fund Company Profile

Flaherty & Crumrine Preferred Income Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in the stocks of companies operating in the financials sector. The fund primarily invests in preferred securities.